Walmart, Target and 7-Eleven poised to announce their own mobile payment system

Walmart, Target and 7-Eleven poised to announce their own mobile payment system
As if we didn't have enough mobile payment initiatives and company agglomerations, now the huge retailers themselves are trying to win the hearts and minds of consumers with their mobile devices.

Walmart, Target, 7-Eleven, Sunoco and others are about to announce a Merchant Customer Exchange (MCX) standard for mobile payments in their establishments. The project is still being fleshed out, a CEO is about to be hired and so on, but the merchants say they know much more about the buyers' purchasing habits and history than, say, Google or the carriers.

Speaking of which, they have a head start, at least Google does with its Wallet initiative, and the carriers, who are behind the ISIS system of mobile payments. Recently all those entered into a joint Mobile Payments Committee, designed to spearhead the adoption rate and iron out the differences between the numerous competing programs and standards, to which we recently had to add Starbucks with its Square cooperation.

This doesn't bode well for the new retailers system, unless they are willing to participate in joint efforts for interoperability, about which Walmart's corporate vice president and assistant treasurer Mike Cook said the following: "We're open to all partners, but it has to be beneficial to member merchants in a way that improves the system and doesn't layer on additional costs".

source: WSJ (subscription req'd) 

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2 Comments

1. wickets

Posts: 12; Member since: Jun 20, 2012

so far i cannot use wallet anywhere i really need to: supermarket, starbucks, le sur table, macys, TGIF's etc etc etc If these corps make it hard to use a mobile device because of fracturing even less people will use it and what a laugh it will be to see them waste all that money for POS terminals just because they had to be the big boy in the sandbox

2. speckledapple

Posts: 902; Member since: Sep 29, 2011

its interesting how this is going to play out. Something tells me that they will compete heavily because they want access to the data, which is more valuable than the system as a whole. If a company can have access to the buying habits of consumers directly like that, it will dawn a new mega age of data for retailers. That is why they are going off on their own though the case is the same with companies like carriers and google; access to consumer habits through data. its a data war.

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